More variables, according to Williams, can assist cut inflation: the rate does not need to be higher than 6%, the global supply chain is improving, and the US economy is quite resilient. The Fed may raise interest rates above the FOMC’s terminal rate expectations, and they will do everything it takes to keep inflation below 2%. Real interest rates must become and remain restrictive.
It also stated that while the inflation report was encouraging, inflation in core services remained high. The United States is not in a recession and does not expect to be in the near future. Next year, the economy is predicted to increase moderately. Wage growth has been strong, and some market participants are more bullish about inflation, believing that the credibility in combating inflation has not eroded.
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